MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0831%/8h= −91.0% APRnext payment −$1.04 per $10,000 · paid last 24h −0.147%

Price spread now: tradeXYZ against Deribit0.000%7-day average −0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$420.417% of the position

Long on Deribit Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.419%−$42 on $10k

Price spread, last 3 days (all we have)−0.041%−$4 · spread now 0.000%, 7d avg −0.076%

Together, before fees−0.460%+ Points / potential airdroptradeXYZ: Active · farm board−$46 on $10k · with fees, hour by hour

The price spread pays, funding is against you. tradeXYZ is 0.076% dearer against Deribit than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.076%): +$8 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 5 days (−0.419% in total) that is about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MSTR_USDC-PERPETUAL	166.02	0.1077	pay 0.0135% / 1h	2m 03s	$282K	$438K	10x
Short	tradeXYZ xyz:MSTR	166.02	0.0246	get 0.0031% / 1h	2m 03s	$56.1M	$35.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee tradeXYZbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$174.52
Price spread: 0.000% → −0.076%: $7.64
Slippage, 4 orders: −$16.73
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$208.61
Costs to cover: 0.417%
Break-even: never at this rate

Slippage from Deribit: live order book, 7 min ago; tradeXYZ: live order book, 7 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Deribit live order book, 7 min ago	7.19 bp	10.7 bp −$11	12.5 bp −$125	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 7 min ago	0.30 bp	11.0 bp −$11	14.2 bp −$142	doesn't fit	doesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MSTR_USDT	−0.0253%	8h	166.19	+0.102%	$4.7M	$19.2M	50x	as long as short
BloFin MSTR-USDT	−0.0028%	8h	166.50	+0.289%	$1.1M	$1.9M	20x	as long as short
Aster MSTRUSDT	0.0000%	8h	166.03	+0.005%	$1.2M	$6.1M	50x	as long as short
Binance MSTRUSDT	0.0000%	8h	166.07	+0.031%	$87.3M	$615.1M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	166.07	+0.030%	$21.4M	$99.2M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	166.16	+0.084%	$27.4M	$113.9M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	166.78	+0.460%	$1.2M	$2.0M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	166.87	+0.512%	$84K	$812K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	166.64	+0.373%	$2.8M	$67K	10x	as long as short
Lighter MSTR	+0.0032%	1h	165.92	−0.060%	$3.5M	$2.0M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	165.88	−0.081%	$571K	$1.9M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	166.20	+0.108%	$1.4M	$8.6M	10x	as long as short
Arcus MSTR-USD	+0.0040%	1h	166.81	+0.476%	$27K	$115K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	166.01	−0.006%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	166.16	+0.084%	$390K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	166.10	+0.048%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	166.38	+0.217%	$773K	$4.8M	10x	as long as short
Nado MSTR-PERP	+0.0064%	1h	166.05	+0.017%	$135K	$129K	3x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	166.69	+0.404%	$1.4M	$1.1M	10x	as long as short
Pacifica MSTR	+0.0100%	1h	166.34	+0.195%	$103K	$84K	10x	as long as short
KuCoin MSTRUSDTM	+0.0100%	8h	165.99	−0.018%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	166.82	+0.482%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	166.18	+0.096%	$3K	$7K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	166.11	+0.053%	$138	—	10x	as long as short
Paradex MSTR-USD-PERP	+0.0106%	8h	166.17	+0.091%	$66	—	5x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+2.000%	$8K	$26K	30x	as long as short
tradeXYZ xyz:MSTRshort	+0.0246%	1h	166.02	0.000%	$56.1M	$35.9M	10x
Phoenix MSTR	+0.0259%	1h	166.74	+0.432%	$56K	$384K	10x	as long as short
Bybit MSTRUSDT	+0.0280%	8h	166.15	+0.078%	$16.7M	$40.3M	50x	as long as short
edgeX MSTRUSDC	+0.0334%	4h	166.79	+0.466%	$43K	$5.4M	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	166.22	+0.120%	$271K	$434K	10x	as long as short
Deribit MSTR_USDC-PERPETUALlong	+0.1077%	1h	166.02	long leg	$282K	$438K	10x